Premium Brands announces acquisition of Raybern Foods
Premium Brands, a Canadian speciality food company, has acquired California-based Raybern Foods.
The maker of speciality deli sandwiches was sold for an undisclosed sum, with sellers including private equity firm TSG Consumer Partners.
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Founded in 1978, Raybern Foods is a leading provider of heat-and-serve deli-style sandwiches in the US retail market.
Their product offering includes the best-selling Philly Cheesesteak sandwich in the US as well as other frozen and refrigerated offerings
“We have been very fortunate to work alongside the talented team at Raybern’s as the Company has continued its leadership position in the handcrafted sandwich/snack category,” said Pierre LeComte, Managing Director at TSG.
“Throughout our investment, Raybern’s has expanded its innovative sandwich offerings, redesigned its packaging, diversified and expanded its customer base, and built a best-in-class manufacturing platform to enhance its operations.
“We are proud of all that Raybern’s has achieved and look forward to watching it continue to thrive as part of Premium Brands.”
Rob Leibowitz, CEO of Raybern’s, added: “The collaborative approach between TSG and Raybern’s has proven immensely valuable as we’ve continued to drive growth – helping us provide even more families with on-trend, delicious and convenient meal and snacking solutions.
“Premium Brands represents a fantastic partner as Raybern’s continues building on its current momentum.”
The announcement comes as Premium Brands also revealed that it has acquired Minnesota-based Buddy’s Kitchen Inc, a maker of sandwiches and other prepared meals, as well as a 50% stake in California-based Shaw Bakers, a producer of artisan breads and pastries.
The move comes as part of Premium Brands wider strategy to strengthen and expand its reach in the US retail market.